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European Commission calls for technical advice from EIOPA

On 20 July 2016, the European Commission requested technical advice from EIOPA in relation to the Commission Delegated Regulation relating to Solvency II (EU/2015/35) (the Solvency II CDR). The Commission identifies certain areas as requiring further clarification, including (a) proportionate application of the requirements, (b) removal of unintended technical inconsistencies and (c) removal of unjustified constraints concerning financing. The Commission has requested EIOPA to provide its advice by 31 October 2017.